11 December 2024

Econet Wireless Zimbabwe added 32 5G base stations in Harare for the half-year ending August 31, 2024, with an additional 120 sites planned.

“The continued network infrastructure modernisation programme has had a positive impact on the business as we launched initiatives to improve customer experience and launch new business lines,” said Econet Wireless Zimbabwe. “The upgrade of our core network is proceeding as planned. The upgrade will provide increased network performance as well as unlocking new capabilities that will allow the business to offer new, exciting and personalised services for our customers as well as support the transition to a full digital services provider.”

Econet Wireless Zimbabwe reported that internet and voice usage increased by 56% and 36%, respectively, compared to the first half of last year, thanks to continuous network modernisation. Data demand remained elevated, resulting in a revenue contribution of 47% compared to 38% in the preceding period, while voice revenue contribution fell to 41% from 49%, owing mostly to increased data usage.

Econet’s mobile money business recorded a 26% growth in revenue, driven by an increase in subscribers, while wallet funding increased by 47% driven by a combination of increased cash-in transactions, payroll processing into wallets and international remittance receipts. During the reporting period, its insurtech business achieved a marginal 3% revenue growth compared to the same period last year.

Looking ahead, Econet will continue to focus on using emerging technologies to improve its service offerings, and that continuous network modernisation and an expanding 5G footprint will allow it to deliver faster and more reliable services.